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Article: Moody's Raises New York City's Bond Rating Outlook.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- January 29, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Michael Saul, Daily News, New York Knight Ridder/Tribune Business News
Jan. 29--A major credit-rating agency gave Mayor Bloomberg's fiscal policies a seal of approval yesterday.
Moody's Investors Service raised the city's bond rating outlook to stable from negative, exactly two weeks after Bloomberg announced the city will end the current fiscal year with a $1.39 billion surplus.
Robert A. Kurtter, a senior vice president in public finance at Moody's, told the Daily News that the change recognizes "achievement of financial results."
"The city was facing some of the most serious financial difficulties since the 1970s. Budget ...